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News Details

( As on 18/12/2024 18:00)

Unimech Aerospace announces launch of initial public offering

Unimech Aerospace and Manufacturing Ltd. has announced public offering of 6369426 shares at a price of Rs 5.00 each for Cash at a Premium of Rs 780.00 per share. The gross proceeds of the issue are expected to be Rs 49,999.99 lakhs.

The company's initial public offer (IPO) will open on 23 December 2024 and is expected to close on 26 December 2024, subject to customary closing conditions. The price band of the issue has been fixed at Rs 745.00-785.00 per share.

The IPO includes a fresh Issue of 6369426 Equity Shares of the Company at an price of Rs 785.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 19 shares with bids in multiples of 19.

Unimech Aerospace and Manufacturing Ltd. anticipates using the proceeds of the issue for a Funding of capital expenditure for expansion through purchase of machineries and equipmentb funding its working capital requirementsc repayment / prepayment, in full or part, of certain borrowings General corporate purposes.

Equirus Capital Private Limited,ANAND RATHI ADVISORS LTD as lead manager(s) & KFin Technologies Ltd. is the registrar, to the issue.